Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
As announced on 28 July 2020, the German agriculture wholesaler, retailer and service provider BayWa plans to close 20 locations in 2021 due to internal restructuring, which will result in the loss of 90 jobs. While BayWa has been exempted from the impacts of the COVID-19 crisis, the management announced closure of 20 locations in East German in the next year. The reduction is necessary because farming businesses in this region continue building their own storage and logistics facilities. Detailed information on the affected locations is not yet available. BayWa intends to make the job reduction as socially acceptable as possible.
Currently, BayWa has 50 locations with approximately 390 employees in the eastern part of Germany.
Eurofound (2020), BayWa, Closure in Germany, factsheet number 101446, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101446.